Rogers sells personal finance site MoneySense to Ratehub

A screengrab of the Moneysense.ca home page on Nov. 29. 2018.
, Image courtesy of MoneySense.ca

TORONTO -- The MoneySense personal finance website has been sold by Rogers Media to Ratehub Inc., for an undisclosed amount.

Ratehub is a Toronto-based company that owns an online comparison site for financial products.

Its ratehub.ca gets most of its revenue from commissions paid by companies after readers click to learn more about a particular product.

MoneySense was once a print magazine with an online presence. Since 2016 it has continued solely as a digital publication that attracts an estimated 700,000 unique visitors a month.

Rogers Media president Rick Brace says in a statement that it was important to find a "good home" for MoneySense.

There have been reports that Rogers has also been shopping around other titles including Maclean's, Canadian Business, Today's Parent, Hello! Canada, Flare and Chatelaine's. But there has been no announcement by Rogers and a spokeswoman declined to answer questions because the company doesn't comment on speculation or mergers and acquisitions.

Ratehub and MoneySense have previously collaborated to present a credit card comparison tool for Canadians.

"We see this acquisition as a way to extend our partnership even further and bring Canadians more comparison tools in areas such as mortgages, investing and savings vehicles, and insurance products," said James Laird, co-founder of Ratehub Inc. and President of CanWise Financial.